Templeton Asset Management, a financial services subsidiary of Franklin Templeton Investments, has reached a final close on its latest emerging markets fund, Templeton Strategic Emerging Markets Fund IV, with more than US$220 million in capital commitments. The vehicle, which launched in March 2012 with a target of US$300 million, will focus on supporting growth in small- to medium-sized companies across emerging markets. The fund has already deployed US$59 million across three investments, including in India-based alcoholic beverages company Globus Spirits and China-based electronics casings manufacturer Tongda Group Holdings.